UPDATE 1-Russian steel firms to cut prices for cars-Deputy PM

Newswire

(Adds quotes, details, background) By Anton Doroshev MOSCOW, Aug 28 (Reuters) - Russian steel companies have agreed to cut prices for car manufacturers by a minimum 5 percent and could make further reductions in the near future, Deputy Prime Minister Igor Sechin said on Thursday. The cuts, which Sechin said could extend to 15 percent, suggest a state-sponsored drive to push down raw material prices, and aid the development of Russia's economy and infrastructure, is spreading quickly to ...

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